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GoDaddy Report all Domain Sales the same to IRS?

I heard a former employee Joe post that GoDaddy collects W-9's and reports all domain sales to IRS on everyone regardless of if they are simply selling a domain or are parking/reselling domains.

 

I am wondering if someone who has direct first hand experience of this can verify and provide some kind of evidence?

 

I worked in Tax and Accounting. Doesn't make sense.

 

I am sick of people just disclaiming "Well, im not a tax professional but..." and then giving false and misleading information based on pure assumptions and their imagination. 

 

Thanks!

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Super User III Super User III
Super User III
Solution

Re: GoDaddy Report all Domain Sales the same to IRS?

If GoDaddy pays you money this is documented and reported to the IRS.  So for example if you sell a domain thru GoDaddy Auctions you would need a Payee account so you can get paid and that income can be reported.  Here is more information on Payee accounts. https://www.godaddy.com/help/change-my-payee-information-1369